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Haiti
qualifies for debt relief under IMF program
AP
Wednesday, September 20, 2006
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Haiti
is eligible for debt relief under an Inter-national Monetary
Fund program a fund official said.
The fund's executive board earlier this month, in a debt
sustainability analysis, determined that the country was
eligible for assistance, Takatoshi Kato, deputy managing
director of the fund, said in a statement released Monday.
The release didn't say how much debt relief the country may
receive.
Haiti,
the poorest country in the Western Hemisphere, has long
suffered from oppression and instability and has been plagued
by near-constant political turmoil for the past two decades.
The
Caribbean country is struggling to recover from a bloody 2004
rebel uprising that toppled then president Jean-Bertrand
Aristide and pushed the country deeper into despair.
The
board cited Haiti's "satisfactory track record"
under an emergency assistance program from 2004-2006, said the
statement.
"They
welcomed the new government's commitment to policies aimed at
sustaining macroeconomic stability and creating conditions for
sustainable growth," Kato said of the IMF board.
The
board members said that Haiti continues to face "daunting
challenges, particularly in the areas of security, social
conditions, and sustained income growth," according to
Kato.
The
directors encouraged Haiti to continue efforts "to
enhance governance, strengthen public institutions, promote
private-sector-led growth, and to orient public expenditure
and the budget toward poverty-reducing activities".
Kato
also called for continued macroeconomic, structural, and
social reforms.
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